Southeast Asia
Tiger Global leads Series A extension for Singapore's Intellect
Tiger Global Management has led a USD 10m Series A extension for Singapore-based mental health start-up Intellect, demonstrating its willingness to reach more deeply into early-stage deals in Asia.
Navis backs Singapore expansion for family office software provider
Navis Capital Partners has led a USD 38m Series C round for Eton Solutions, a US software provider for family offices currently establishing a Singapore office.
Lightspeed raises $500m for India, Southeast Asia
Lightspeed India Partners, which also targets Southeast Asia, has closed its fourth early-stage VC fund with USD 500m in commitments.
Temasek sees portfolio hit new high, warns of global weakness
Temasek Holdings continued its rapid pace of investment over the past year as the portfolio reached a new record high valuation, but the Singapore investor warned of potential difficulties ahead, noting that the global economy is in a “fragile state.”...
Southeast Asia tech: Resilient with an asterisk
Southeast Asia’s booming tech space no longer lends itself to an easy narrative. As start-up fever cools globally, the region charges forward. Cracks are beginning to show but so are counterintuitive bright spots
Indonesia B2B agriculture marketplace gets $35m Series A
AgriAku, an Indonesia-based B2B marketplace that looks to improve agriculture supply chain efficiency for retailers of agricultural inputs, has raised USD 35m in Series A funding led by Alpha JWC Ventures.
Singapore blockchain gaming start-up gets $20m
Singapore’s Oasys, a blockchain technology developer focused on web3 gaming, has raised USD 20m from several specialist crypto investors.
India fintech player Cred closes $140m Series F
Cred, an India-based credit card rewards provider, has closed a USD 140m Series F round that includes a secondary component intended to facilitate exits for existing investors.
Singapore blockchain player Rubix raises $100m
Singapore-based crypto transaction infrastructure provider Rubix has raised USD 100m from US-based LDA Capital to transition into a more web3-oriented and “green blockchain” model.
Tough funding terms can hinder start-up growth - forum
Imposing punitive terms on founders in response to governance concerns can prove counterproductive to long-term growth as start-ups move through funding rounds and stipulations intensify, a Singapore Venture Capital & Private Equity Association (SVCA)...
Singapore-based Timothy Zee leaves PAG
Timothy Zee, a Singapore-based managing director with PAG whose primary responsibilities included deal sourcing and business development, has left the firm after 10 years.
Entrepreneur First raises $158m, targets SE Asia
UK-headquartered incubator Entrepreneur First (EF) has raised USD 158m, targeted in part at investment in Southeast Asian start-ups and expanding its reach in the region.
Panthera hits first close on India, Southeast Asia fund
India and Southeast Asia-focused Panthera Growth Partners has reached a first close on its second fund with commitments amounting to more than half the overall target of USD 250m.
Deal focus: Confidence unwavering in SE Asia e-commerce
Singapore online shopping platform ShopBack hopes to extend a fledgling theme of Southeast Asian IPOs in the US amid threats to discretionary spending in its core markets
SeaTown invests $50m in Vietnam e-commerce enabler
SeaTown Holdings International, an alternatives manager owned by Temasek Holdings, has provided a USD 50m Series B round for Vietnamese e-commerce enabler OnPoint.
Southeast Asia logistics player Deliveree raises $80m
Gobi Partners and SPIL Ventures – the corporate venture capital arm of shipping business Salam Pacific Indonesia Lines – have led a USD 70m Series C round for Southeast Asia-focused logistics marketplace Deliveree.
Asia Partners leads $80m round for Singapore's ShopBack
Singapore’s Asia Partners has led a USD 80m growth round for local e-commerce and retail rewards platform ShopBack.
Openspace, VI Group lead $25m round for Vietnam's Finhay
Openspace Ventures and VI Group have led a USD 25m Series B round for Vietnamese digital investment platform Finhay.
Malaysia's RPG Commerce raises $29m Series B
East Ventures has led a USD 29m Series B round for Malaysia-based direct-to-consumer (DTC) social e-commerce company RPG Commerce.
India-focused neobank Stashfin raises $270m
Stashfin, a Singapore-based neobank that primarily operates in India, has raised USD 70m in equity funding – and secured a further USD 200m in debt – as part of a Series C round.
Singapore e-commerce aggregator gets $45m
Singapore’s Rainforest, an aggregator of Amazon marketplace sellers, has raised a USD 45m round led by Southern Capital, which provided USD 15m.
Placement agents: Asian entries
Asia’s sparse placement agent scene is fleshing itself out despite macro headwinds, but the model is being revised to adapt to a changing market. This appears irreversible
Indonesia blockchain player Ekta raises $60m
Indonesia’s Ekta, a blockchain ecosystem operator with a non-fungible token (NFT) marketplace and eponymous cryptocurrency, has raised USD 60m from US-based Global Emerging Markets (GEM).
Vulcan leads $10.5m Series A for Singapore's Amili
Vulcan Capital, an investment vehicle established by Microsoft co-founder Paul Allen, has led a USD 10.5m Series A round for Singapore-based microbe analytics start-up Amili.